every year. thank you so much. the airline looking at waiving change these to deal with the wintery mix watching out holiday week for a good part of the nation. federal reserve chief alan greenspan talks with fox business about pumping cash into the economy with the central bank's next move. the minimum wage debate rages on. will let help or hurt those most in need? new jersey goes online with gambling. garden state and maybe others? that and more this hour. connell mcshane is here on markets now. ♪ connell: great to have you back after a couple days. dagen: always wondering if i am going to get arrested when i fly. connell: of bad weather. dagen: i'm made it through the needles.

connell: have happened to you. dagen: lovely people, lovely flight attendants on american airlines. love the people. connell: i am glad you don't focus only on the negative. stocks of two which is positive as we have mixed economic news which we will talk about with bob schiller, alan greenspan, peter barnes, nicole petallides starts us off from the floor of the stock exchange. nicole: you see the dow jones industrials up 20 points. we haven't broken through yesterday's highs. we had an incredible run, weeks of gains, an incredible year. the dow was up 23%, the s&p up 27% and the nasdaq up 30%. the run continues and some names on the dow better hitting highs said disney, american express, a traveler to name a few. take a look at tiffany, all-time highs for tiffany, a higher quarterly profit in asia, that is where way saw the strength for sales and raise full-year earnings per share numbers

looking good peer up 7%. dagen: to the storm that could wreak havoc on holiday travelers across much of the nation, carrying a mix of rain, ice and snow depending on where you live you'll get one of the three. we will hear from maria molina who says it is picking up steam as it heads northeast raising concerns for many. of the forty-three million travelers who will be heading out over the thanksgiving holiday. airlines like usairways and adults are thinking of waiting change fees and that is where we bring in mike boyd, the head of boyd group international who watches the airline business for a living. how bad is the storm going to beat for the airline industry for people who are flying? >> people flying, it is a one of vacation for many of them and one day. if you miss thanksgiving you can't redo it next week. the airline will not be as bad as you might think, it will be like any other storm.

there are fewer people flying over this period then there would be otherwise because saturday and friday are light days. it won't help airlines' but it won't be like having black friday close the local malls. dagen: not like the skies are not like as you point this out, the skies are not like the jersey turnpike where all of a sudden there are that many more cars, there are not many more planes, fewer flights scheduled over this thanksgiving than last year. >> 1/2% fewer, the same number as feet. it will be the same as we saw but somehow or other the good lord always gives us a snowstorm over a holiday. dagen: absolutely. the problem if you are traveling is amateurs travels that time of year, people who don't do this as part of their jobs so the headaches the traveler feels is assuming your flight isn't even canceled, right when you go through security at the airport. >> it is really tough. there are people who don't fly a

lot. when you have these downturns in the weather, not a lot of people are left to help you. you are dealing with a kiosk. when things go down you can't talk to a kiosk, you go to a phone and you are talking to someone who barely speaks english. can be a lot of fun when you have a white and three kids and a diaper bag. dagen: what is the best way to handle a change like that if you are in the airport and your flight is delayed or has been cancelled? are you better off using your smart phone and going on line to do it or trying to call somebody or trying to get into one of the airline lounges with a credit card? they can make changes. that is where you will find people. >> most people don't belong to those and that is the problem. the big thing is dell online and do-it-yourself. we have read book you for next wednesday so you got to go on line and do-it-yourself. dagen: with waiving of the change fees that has no

financial impact on the airlines because you are essentials repeat the who are changing their flights wouldn't be changing their flights if not for bad weather so that is revenue they wouldn't see any way. >> i have a problem with airlines. you can change with in this period of time. it is a holiday. if i missed holiday let me refund the tickets and most airlines in not refund the ticket with, service fee. it is big of them to do this but the reality is you are still going to get financially it. dagen: one last thing. if you think you are going to get delayed or canceled and you are flying tonight or tomorrow and it looks like you are going to have problems should people just not go and tell the family sorry, i will see you over christmas? >> that would be my recommendation. i can't think of anything more ghastly than being stuck in chicago o'hare during a snowstorm. staying home you are safe, other thanksgivings coming that is what i would recommend.

dagen: taking a shower in the bathroom. you know what i am saying? thank mike boyd. connell: now to talk about the economic data that came out today. yesterday the headline was pending home sales hitting a ten michelob but today case schiller, that they are from september reveals home prices jumped over 13% from september of 2012, fastest been since february of 2006. robert schuller's co author of that indictment, recent member of the nobel prize in economic science. nice to have that nobel prize attach to your introduction as it will be forever. that is a good start. it is great. let me go first of all to this data today and ask the question this way. prices are up. are they? any concerns they may be rising too quickly? a discussion on markets now about home price affordability. any chance these gains as they are coming drive buyers away at some point?

>> home buyers in most places are relatively low. affordability is still ok. my concern about the persistence of these upswings is concerned we are more investor oriented market. i don't know that the momentum that used to be so stable or will continue to be stable could break. connell: what would that look like? this money that is coming in, not all of it but a lot of foreign money investing as opposed to buying homes to live in, a problem that could get extremely lovely, what do you mean? >> they could go down. connell: nobel prize to get that right. don't know what that looks like. >> we are in uncharted carrots sorry. we never had this kind of bubble that we went through. now we have a new emerging

investor class. i don't know if i am convinced this is going to work or is that good a thing. is an experiment they are in now. they could be out in another gear. connell: we were talking about the past, present or future. we had a big bubble in housing. is there concern there's something else going on here? marbles are being formed? is that what you are saying? >> it looks like it in some cities. las vegas, it is up 30% in the last year. even more, 40% as you go back to the bottom in the spring of 2012. that is bubble territory. connell: a bobble in las vegas real-estate. >> the problem is the prices are not high yet in las vegas so it is not a plastic bubble. and i don't know how to predict

it. when you say you are rephrasing what i said to be a bubble in las vegas, i wasn't really going to use that word. i think it is a funny price increase, hard to know where is going next. connell: any cities that concern you other than vegas when you see the price increases? >> san francisco for example. in san francisco, condo prices are to their peak. they are almost there. in the next month or two they pass it, the peak was in 2006, a long time ago. in real terms they are not so high. connell: you will never guess who the next guest on the show coming up after you. do you know who it is? alan greenspan. somebody had a book. listen up 51 to keep your ear piece in.

bob schiller, thank you very much. >> my pleasure. dagen: nobel prize winner. i love bob. former federal reserve chief alan greenspan says very little of the central bank's bond purchasing program filtered out into the economy. connell: peter barnes joins us with his big interview with former fed chairman, exclusive interview, take it away. peter: first on fox business, he is pitching, trying to sell his new book the map and territory, lessons learned from the financial crisis and the future of forecasting. got into the current monetary policy. had to ask about that. how does the fed get out of this quantitative easing, the $3 trillion in bonds purchased over the last five years to help the economy, help interest rates, here is what he said. >> people at the federal reserve are fully aware of the issue of

taxing and problems are resolved. the one thing that is important to recognize, however, is that very little of any of the q es have actually filtered out into the economy with the exception of the very heavy purchases of mortgage-backed securities, long-term interest rates down because remember what happens when of a federal reserve expands its balance sheet to create reserves in the hands of one or more commercial banks. so that we had this huge increase in so-called excess reserves which are deposits for example by jpmorgan that the federal reserve bank of new york and all other commercial banks, depository institutions among the 12 reserve banks, the issue is that these reserves are held

with no capital requirements to getting 25 basis points interest. 1/4%. all they need to do is punch a few electronic buttons which transfer the funds from the federal reserve to their balance sheet. >> but that gets complicated. in an interview we talked about how this works and he said he didn't want to discuss current fed policy because former chairs is not to talk about the current chairs and folks like janet yellen coming in and ben bernanke leaving but i asked about bubbles, irrational exuberance in the stock market. he said actually he thinks it will be overstating the case to say there is a bubble in the stock market based on his analytics but i asked whether we have a bubble in the bond market. he said he does not have in his portfolio any 30-year bonds. he thinks interest rates are going up as the fed tries to

manage this. connell: interesting. a lot more throughout the day from peter barnes. >> the whole thing will be on foxbusiness.com. connell: thanks, peter barnes with alan greenspan. dagen: why a 30-year bond if you are not going to live that long? connell: is that the way we're going to go with this after that interview? dagen: unless you think there are price appreciation involved. connell: don't be so morbid. dagen: happy times. not as advertised. like many of those black friday shopping deals, not good bargains at all. connell: the city of washington d.c. pushing ahead with a measure to raise the minimum wage. always a great economic debate aimed directly at walmart, we will get into that later in the hour. dagen: this storm making it through the eastern part of the united states, mario molina has your forecast. (vo) you are a business pro.

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just a breeze. men's warehouse making the bid for joseph a. bank. connell: nicole petallides. nicole: it is all tricky. let's look at what is going on. both of these retailers are hitting some halfs, multiyear highs,'s warehouse a 6%, joseph a. bank up 9%, and this on the news that men's warehouse has offered by joseph a. bank for $1 billion, 8.7% premium. this is three weeks after a judge if a bank tried to buy its bitter rival men's warehouse and moments ago we got confirmation that they did get this unsolicited proposal. watch all of these leads seems all the analysts on wall street think the merger is a good idea and shareholders are pretty happy today. dennis: as we talk about retailer the big deals you get on black friday, always

advertise, you think you are getting a great deal, they draw you into the store but according to a new record they may not be worth after all. the wall street journal says the retailer has worked backward with their suppliers to set starting prices and the supposed markdowns, items would be sold at profit margins the retailers wanted from the beginning. the journal and its story uses an example of a red ruffle next wetter on sale for $39.99, supposed to be sold at a $60 starting price you see on the tab. it starts at $39.99, not exactly. here's a look while we are talking about retail, retail stocks today and all the ones on the screen are up. dagen: just-in-time for the holidays, forbes posting its annual list of the largest u.s. charities. topping the list, united way which collected $3.9 billlon, the organization works with 1300 affiliate's focusing on education, finance and health. salvation army grabbed the

second spot, for for global health was third, feeding america, fourth and catholic charities usa rounding out the top five. connell: everyone is talking about the weather, especially as the storm moves east. she joins us with the latest on the storm that threatens holiday travel for many americans. dagen: online help exchange is easier to use than the government has cooked up so far. the most free research reports, customizable charts, powerful screening tools, and guaranteed 1-second trades. and at the center of it all is a surprisingly low price -- just $7.95. in fact, fidelity gives you lower trade commissions than schwab, td ameritrade, and etrade. i'm monica santiago of fidelity investments, and low fees and commissions are another reason serious investors are choosing fidelity. now get 200 free trades

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connell: dagen mcdowell was talking about the storm moving east impacting the nation. after what we sought western earlier in the weekend the big thing, the interruption of holiday travel plans. dagen: if you are not willing to stay at home you better listen to maria molina, are meteorologist at fox business in the weather center with more. >> you are absolutely right. many people at this point stay home, that is premature cross the northeast. if you are not leaving any time soon i do not recommend travelling as we head into tonight or early tomorrow morning across the northeast. the center of the storm is across the southeast. we have been talking about snow fall being a concern, strong

wind and heavy rain in coastal areas, but we are also seeing tornadoes possible with this storm and we have a tornado watch right now and effect across the florida panhandle including panama city and an hour or so ago we had a tornado come confirmed with debris and damage reported a cross-section of the florida panhandle so plea here. we are talking dangerous weather. tornado warning in effect, there could actually be a tornado on the ground. if you live here you need to seek shelter immediately. there could be a tornado on the ground. severe weather including damaging winds in excess of 50 m.p.h. and tornadoes possible across the carolinas, george and the states of florida. otherwise a lot of precipitation with the storm even though the centers across the southeast, we're seeing snow coming down in pennsylvania, heavy rain across george and tennessee, the timing on the worst of the storm today

across parts of the southeast and overnight tonight into tomorrow, we will be seeing the winds picking up and snow and rain in the northeast so major delays expected and for thanksgiving the storm is out of here, much more behind it. connell: dangerous stuff in some parts of the country, thanks, mario molina. dagen: changing gears, let's make money with charles payne, talking to us about common mistake people make when investing. connell: we started yesterday, she was off yesterday, i love when charles goes professor pen on us. dagen: think you for sending a didn't watch the program. connell: maybe you did. so people say stock is cheap and often don't know what they're talking about. charles: that word blows me away, cheap. they based on what? the stock price. up $1, it is cheap. the justification for this is

often when i ask people, look at portfolios and the reason it came up these we had an amazing year and we're getting more and more subscribers coming don doing all the mistakes they always made. i looked at a woman's portfolio, she and $18 stock and everything else under $10 and i have limited funds. connell: they get a angry at you, you get angry back. charles: i want people to do with the right way and the thing is my rule of thumb is most stocks under $10 are overvalued. most stocks over $100 are undervalued. sox going down, when they break on the downside, i never touched them. maybe three years later or four years later i am looking at 20 years later but i am telling you there are certain things that happen and it reflects a fractured company. these factors are not small fractures. they are gigantic fundamental problems but ultimately if you had $1,000, stock trading for

$1,000 and you buy one share of that i would rather see someone unknown that than a thousand shares of a one dollar stock that missed the earnings report, the ceo, an accounting scandal, it is cheap, cheap. connell: price to earnings sales or whatever the value is. charles: this might be the number one mistake a lot of novices may, the notion i have limited funds, i want a cheap stock and i am loading up on and $2 stock that used to be a $30 stock. dagen: a buck or less is probably a scam. connell: at that to your list. charles: i can't argue with that. you are probably right. dagen: better hold your nose, kitty litter. connell: see you later. dagen: better way to change your health plan on line. we will show it to you coming up. connell: the debate over raising the minimum wage front and center in the nation's capital. that is ahead.

dagen: it is the bottom of the hour, already fired up for this choosing a health care plan online does not have the headache created by the government. there are other options. and walmart in the middle of the minimum wage debate. this time in our nation's capital. chris christie up and running with online gambling. connell: lets go back to nicole petallides at the new york stock exchange taking a look at the big movers. nicole: i have a winner and a loser. food and technology. talking about or me hormel. people are eating at home more. tough economy, improved revenue.

really benefiting from the acquisition of skippy's peer butter. nuance profit, their forecast has been weaker than expected. by the way, up 5.5%. they have the series feature on apple tried to hold onto higher pricing and fend off deals because they tried to hold onto the higher pricing. back to you. dagen: there is a new health care website in town. three men from the bay area launching a cleaner, easier version allowing customers to find health plans based on the zip codes. based on what we know so far, to liven up and running for a couple of weeks. connell: joining us from the bureau in l.a. to talk about this. >> one of the biggest complaints about the government website is

all the steps you have to go through. just to be able to window shop and compare insurance plans and costs. three young engineers came up with an easy fix at least for that problem, take a look. >> there is no doubt people are frustrated. >> well president obama has been doing damage control, they brainstormed and launched a website that lets users quickly compare health insurance plans. >> we are a comment to healthcare.gov. will allow you to browse and explore your options without going the pain of signing up. >> they added a user-friendly interface, type in your zip code, family member ages, whether you smoke and wallow. >> i had gone knowing nothing about my options to know exactly what plans exist, what subsidies i can get and what the premiums are for my family.

>> from there they can enroll at healthcare.gov or with insurance company. tens of thousands of people have clicked on the sign-up online tab. there is no advertising and these guys are not making money, for them it is a public service. >> nine months ago wanted to focus on health care in general and really have the biggest impact on society that i could possibly have read this is a great outlet for that. >> a couple of glitches are being worked out. some zip codes do not return any information. the glitches are being ironed out. unlike a lot of people, they give big props to the federal website, healthcare.gov and to the contractors who did all the legwork to gather the data and make it public. connell: thanks. dagen: for more perspective, editor at large for canada's

national post and author of merger of the century. what do you make of the problems we are suffering here? >> i think the story is the one that gets all the noise and it should, this kind of a mess and i welcome this idea where all of these entrepreneurs come up with ideas to do it better, faster and so on. that is one story. i don't know about you, but my experience is rollout the seventh circle of hell. i've had my toyota, my tires, it is really difficult stuff. this is a big contract, a huge deal. that has to be fixed. the second story is you are making steps as a nation to match what other rich nations are doing. that is provide basic health care for everybody.

connell: i think it would be fair to say the connotation with government involvement is a negative one with the way the rollout has gone and other things, so are you here to defend that? speak of the system is different. europe has a really good hybrid system with a basic public health care for everybody and you can do à la carte. think of it like public education for all, but you can go to a private school and get stuff à la cart. you still have to support the public school system. canada is totally monopolistic. cosmetic surgery is paid for, eyeglasses, dentistry. if there is something wrong with your mouth, that is covered. dagen: essentially single-payer health care, the hospitals run by the government, the doctors are reimbursed.

>> the doctors negotiate fees like in the private sector and other countries. the hospitals are now all commit all and that they weren't in the beginning. there's no insurance companies involved, so the only payer for all these services are governments. the government pay for everything. they did the negotiations but the doctors run the system. dagen: one of the issues here as we have single-payer, it is called medicare. we are paying for it today. there is a hole in it. it dries up in 13 years roughly based on the trustees report. i think one of the issues people had with moving ahead with the health care system is we had one on the verge of being broken and needs fixing and we are not willing to do that now we are trying to extend something to the rest of the population. >> your health care system is the worst in the world.

cost twice as much as everybody else's per person. rich people in a hurry, if he wants to get something done in a hurry or if you want to go to the mail. we have clinics that have a lot of american patients. highly ranked for certain cancer research, we have a hospital for sick children that does all kinds of things. dagen: wait times in canada have been longer. americans have some distrust of government when it comes handling their health care. >> it is tricky to provide basic health care when your system is already too expensive so that has to be something on the cost side eventually. it might happen if you get all the healthy people, young, healthy people signing up paying premiums. it will bring everybody else's costs down. connell: we generally like people with canada like rob ford.

>> he put us on the map. connell: i wouldn't know abouu that. speaking of health care, might be some issues there. a good discussion. thank you a lot. we are not merging with you, you're on your own. an interesting book, all the same. interesting debate on the economics of things. minimum wage debate is back and walmart finds itself in the middle of it in washington, d.c., coming up. dagen: online gambling a reality in jersey. big money for the west state. lawmakers are hoping that will be the case. connell: more peter barnes interview with alan greenspan. peter has no comments coming your way at the top of the hour on "markets now" reedit keep it here.

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[ male announcer ] get the all-new 2014 cla250 starting at just $29,900. >> i'm adam shapiro to fox business brief. consumer confidence fell to its lowest levels since april. the conference board index fell to 70.4 from 72.4 in october. consumers express concern about future job and earning prospects. home construction permits rose last month to the highest level since june 2008, the commerce department said october building permits jumped 6.2% two is easily adjusted annual rate of 1.03 million units. ford is recalling its escape

small suv to repair oil and fuel leaks that can cause a fire. the cylinder heads and more than 151,000 escapes from the 2013 model year can overheat, they can crack causing oil leaks. the defect has caused 13 fires but no injuries. this is the seventh recall since the redesign escaped launched in 2012. that is the latest from the fox business network.

dagen: washington, d.c., city council pushing forward a measure to increase the minimum wage in the nation's capital by over a period of time. 40%. in part aimed at walmart. again originally aimed at walmart trying to essentially keep the company out of the city limits and highlights the argument about whether there should be a national increase in the minimum wage. former director of the congressional budget office anti-american actions form.

you say what? this is just a local issue for washington or do you think this is something that will be gaining steam in other parts of the country? >> i think it will be gaining steam. this is responsible and legitimate problem. you've had such a weak recovery with such poor income growth, looking for a raise one way or another. that has fueled the minimum wage. the problem as it does not effectively solve the problem and in fact causes a lot of harm. it is not just walmart. most of the minimum wage workers are in small businesses, 40% of them under 50 employees, that is where you get the big impact especially affects hiring. an economy with weak job growth to curb hiring is counterproductive move. dagen: walmart average full-time associate and hourly worker makes a little under $13 per

hour according to all start the mac walmart research. >> walmart is not a minimum-wage company. it is a great misnomer to suggest it is. also offers health benefits and often has urban legends, neither of those is true. the real problem is a lot of small business with minimum-wage workers and if you raise the minimum wage, you hurt hiring in those small businesses. work with don suggest if you went to a $10 minimum-wage nationwide, you would kill 2.3 million new jobs. that is a big harm in an economy not generating enough jobs to get us down anything that looks like 5.5, 6% unemployment. it is a very counterproductive move. one more thing, dagen. one thing if you did this and you suffered the job loss and you somehow helped poor people. but 80% of minimum-wage workers are not living in poverty.

they get the raise. this does not add up going through the numbers. dagen: what would you do to help the working poor? >> first we have to grow better. we have to stop the set of policies that rely on fake taxes, regulation and impede the ability of the private sector to create jobs because those jobs are going to be the heart of higher wages. the second thing get people into work. the minimum-wage gets people out of work. get people into work. that is where poverty goes down, when people are working. dagen: thank you. connell: interesting data talking about the market. alan greenspan on. with that as the backdrop, investor confidence. this tracks the appetite for

risk. appetite for risk. in november showed retail investors may be driving the last leg of the 2013 gold run. talked about it today, pointing out the retail investors make some big mistakes along the way as they jump in. some different questions for the head of research and advisory, she joins us now from boston. the questions related to these institutional investors. we talked about the retail side of it. what are the institutions doing right now? >> glad to be on. the state street investor confidence index is really focus on institutional buying and selling, not opinion. the big headline we have got this month is european investment confidence after ratcheting up for several months and actually peeking out last month over mid-2007 levels has pulled back over 10 points, we

are now in basically risk neutral territory. connell: that is european side of it. it'll be interesting people haven't heard it yet what greenspan had to say about whether the bubble atmosphere out there. what about here in the united states? anything that stands out? >> really last month was the tale of two regions because as we were seeing the europeans with a very high sentiment. in the u.s. we saw a big retrenchment, we went from sort of a risk neutral stance in the u.s. to something that was an index of about 85, so very low. really it is saying a lot about policy uncertainty. institutional investors in the u.s. were reacting certainly to some of the issues in washington and the budget debate. connell: which we'll talk about at nausea him.

we will go through another round of that, thank goodness. >> come january. connell: this is the most part looking backward at that as opposed to being predictive of the futures, is that fair? >> it is fair to say this is how they are voting, not what they say they are doing. and so it is tracking what is really happening. in the u.s. i would say we do know investors are institutional investors are still somewhat underweight their position in u.s. equities, so although retail investors tend to get in toward the end, the data will show that. but institutions still have some reallocation to do toward the u.s. we will see whether or not that happens. connell: that is interesting. a lot of different sized to this.

that is why do so tough to figure out what the market will do. thank you for joining us with these numbers, appreciate it. >> thank you. dagen: new jersey goes gambling. (announcer) scottrade knows our clients trade and invest their own way. with scottrade's smart text, i can quickly

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connell: this is tomorrow's business today as new jersey gambling raters are giving six casinos a green light to offer internet gambling. hoping to put places like atlantic city back on the map. dagen: rick leventhal with more. it is a big day for jersey.

>> it is indeed. largest expansion of gambling since the casinos first opened their doors here 35 years ago today. new jersey becomes the third state america to legalize online gaming. 13 different online websites ram partnership with six atlantic city casinos offering poker, blackjack, roulette, any casino game to anybody signing up as long as that person is physically in the garden state. athere's a huge appetite for online gaming with 9 million residents of new jersey. the vastness 200 million 200 million-1.8 billion per year which has the casinos and their partners salivating. >> this is a historic moment for the poker industry. i think regulated gaming coming back into the united states is a transformative moment in history, something poker players have to looking forward to for a long time and the industry has been looking forward to for a long time.

>> texa taxes going to go to the state and the redeveloped in front fund and the profits will go to the casinos and partners helping to stabilize the casinos bottom line. connell: a lot of money here. number one regulation, how will it be regulated and the societal question compulsive gambling is a big problem, so are they addressing that at all? >> they say they are. they say you are much better off gambling at one of these related online sites then you would be in a brick-and-mortar casino because in a casino you can be anonymous. you can walk in and start gambling and losing your money and all they have is a picture of you. online you have to register with all of your personal information and they keep close tabs on your betting habits and regular readers will spot in a disturbing patterns they say helping you get the help that you need. listen. >> in the internet world everything you do have a record of and we keep that record for 10 years.

so you are not anonymous. if you think you are but you really aren't. >> and net gaming online in new jersey you have to be in the state to play. dagen: but you don't have to put your clothes on to gamble, pants free. connell: i apologize for her behavior as usual. thank you. he felt like he was cornered. dagen: president obama gets heckled for some of his reporters yesterday. he may real effort to reach across the aisle. for some help. dennis kneale, tracy byrnes ask for help coming up. connell: the storm moving east can ground ar your thanksgiving travel plans. a detailed ahead on "markets now." ♪ ♪

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[shouting] >> all right. what i would like to do -- don't worry about it. let me finish. how about -- let me finish. dennis: the his got to heard. president obama getting heckled by one of his own supporters. i am dennis kneale with tracy byrnes taking you through the next hour of markets now. failed obamacare controversial deal with iran, fractured party. should the president making a real leopard to reach out to republicans for help? alan colmes way is in. record run in the market as some fear in the stock bubble. former fed chin kicking a fox business exclusive and winter weather blasting the country, the latest forecast and how it could hamper your holiday travel plans. all this and more on markets

now. >> the in-laws for thanksgiving and not enough, now you have to overcome travel troubles. tracy: you had your turkey. dennis: is on order but not cut yet. tracy: got to work on that. time for stocks as we do every 15 minutes. nicole petallides on the floor of the exchange. all little something on the dow. nicole: he appears on fox business all the time, moments ago, checking on his flight for tomorrow morning to where? >> seattle. i am on time but all bets are off. tracy: represents the many americans who are ready to take the trend but don't know if they are actually going. get your turkey and friends in seattle. markets all higher across the board and worth mentioning the nasdaq composite, new high

today. dennis: thank you. one misstep after another for the obama administration, disasters rollout of obamacare and the president's democratic party is divided by controversial deal to lift sanctions on iran for a new standstill. time for the president reached out to the gop? let's bring in alan colmes. what do you think? is it time for new or reached? >> person always be our region. by the president and vice versa but this is the republican party that wants nothing to do with this president would they were renouncing the deal with iran before the details even came out saturday night. within moments of 9:00 eastern texas senator john koren said this is as absurd as obamacare. they don't want to work with him. dennis: democratic senator chuck schumer of new york. >> 9 five people in the democratic party against this.

john schumer, i disagree with him, this is a good deal, six months deal that expires ended it is not a good play with in six months the deal is done. dennis: iran is coming to the negotiating table and because the sanctions hurt so bad. we are willing to lift the sanctions and allow them to stay where they are. >> it lowers in richmond to 5%. it is not staying where they are. it lowers the enrichment and again if iran does not play properly in six months the deal is done. dennis: what about the notion we shouldn't trust, all. they are liars and they hate us and >> what is the alternative? >> further sanctions. >> to lower enrichment in return for a using sanctions. dennis: back to republican overture. at some point doesn't the president get helped by trying to win over the enemy? a trust him. >> mitch mcconnell says get him out of office, you have them renouncing his deal with iran

before they knew the details, they don't want to work with them. he should do not reach betty won't get a receptive response from the other side because they despise the guy. dennis: the president is losing the media, they are starting to turn against him. not like -- the media was always -- >> i talked to liberals in new york who are disaffected and wyatt -- >> always had a problem with progressives, those on the left to one single payer, did not like the affordable perfect, and the president was never in the pocket of liberals or vice versa. he is governing as a moderate, not a progressive. dennis: can't line of the the republicans how does he get out of this mess? >> republicans don't want to work with him. they want to see and not do well. they were renouncing obamacare before it got implemented. he should do our reach. when they fail to respond, the people shutdown the government because they could get what they wanted. they will not work with obama because they don't like the guy.

>> i don't think the government shutdown heard as. >> it cost billions and billions of dollars. dennis: we saved -- >> crude something else the. dennis: cost money -- >> last time moody's lowered bond rating after they pulled this away. dennis: i think the markets know all doubt that government shutdown -- >> so obama get blamed if the market goes down but get no credit for going. dennis: that is the way it works. thanks a lot. tracy: i blame him for the traffic on the bridge. former federal reserve chief alan greenspan saying the markets are far from bubbly. the measurements way below normal rates. peter barnes joins us from washington with more on the exclusive interview with a former fed chief. awesome job, by the way.

peter: he stopped by to talk about his new book the man and the territory. good at connecting the dots on what happened in the financial crisis, lessons learned as what he is trying to talk about in the book but i did ask him about the markets right now and as you recall in 1996, the chairman famously talked about irrational exuberance going into the dot.com bubble. price-to-earnings ratio is 20. to the depending which when used it is 16, 18, 19. are the markets bubbly now? are we getting a little bit of rationally exuberant these days in equities? here's what he said. >> remember that price-earnings ratio is only part of the evaluation process. what economists do is calculate the equity premium comment and the equity premium is a measure of what the average investor requires as a rate of return to

invest in common stocks. jpmorgan his estimate is the best annual event of that particular statistic fairly recently a year or two ago had the highest equity premium in 50 years. that meant stocks were extremely undervalued. end back significantly since if you look at the equity premium it has come down. it is well off of its peak but still way beyond normal. there is still that support, but obviously, we are now no longer at the peak where it sort of is like shooting fish in a barrel. now there's a problem in the short-term forecasting, to say that the market is bubbly and

the position where it could conceivably waiting to start a serious problem is overstating it. >> wanted to ask about current monetary policy, the fed's 3 don't -- $3 trillion of bond buying, quantitative easing, how is trying to exit that, manage interest-rate expectations and all he would say is it is an experiment. the thing is going to work? he says i hope it does but i will wait and see. tracy: that was pretty telling. great interview. let's look at reaction. we will bring in san sobel, chief equity strategist and fox business contributor charles payne. i felt that was pretty telling when peter asked about quantitative easing, he said was an experiment and he hopes to work, fingers crossed, over the shoulder, do whatever you do to wish us all good luck. >> actually yes because it has

not been tried before. we are dealing with 0 interest rates, we need to have no alternatives in which to stimulate the economy so we had q e 3 for a while land investors seem to like it. we have a bit of euphoria in the market once they decided to delay the tapering until who knows when, standard and poor's economic would operate independently of this in the capital iq thinks they could do it in december, we could see the first capering take place sometime next month and if not then just gets delayed until the first quarter but they are going to definitely be pulling back the stimulus sometime next year. tracy: what happens to this market? it is not bubbly. >> interesting thing. there was an article yesterday about maybe the fed trying to go -- 25 basis points, going to

zero completely or a negative number. this way forcing banks to loan money. tracy: low enough to force them now? charles: is not forcing them. they have a pretty good deal on their hands and alan greenspan talked about that. they put it on deposit with the fed and is is a small interest rate but they get something back and can ride this out until they get the business they want, better gdp. as far as tapering them, greenspan, nothing to go on with capering, i do know i have studied in the past when the fed made sharp changes in their policy and the last week to bull run's we sought temporary pullbacks, a lot of people in the market because of the fed, let them come out, we saw both times the rally resumes for many months. in one instance over 40 months and one was 70 months. huge moves after they began to raise rates. tracy: sometime next year. before it will be earliest march at best.

tracy: what do you think? you have seen in your research the fed chair changes ten years, knew person comes in the market school back a little on that as well. >> certainly charles, there's a possibility that the fed waits until march, that is what consensus is saying, based on the data, there's not enough to convince them to start raising or capering now. historically the first three months of but new fed chairperson's tenure in office the market declined 1.5%. you take out alan greenspan the number pops back up to plus 1 person so it is an urban legend that basically says the market gets a little worried when we have a change of did leadership the market declines. actually 54% of the time, pretty much like flipping a coin.

charles: alan greenspan, infamous or famous to benign your deck of view. tracy: potentially being blamed. charles: that was in 1996, december of 1996. the market was rationally exuberant for another three years. trying to pinpoint the top even when the maestro tried it is difficult to do. tracy: what do widefor the end of the year? people are going to get some year end bonuses money in the market are out? >> does back into the market or continues into the market, a look back to world war ii and said any time we had a year to date rise of 15% or more through the end of november what happens and interesting lead the market has continued to rise a little more than 2% and did so more than 70% of the time. the odds favor a continued advance through the rest of the year. tracy: like our own statistics

course. thank you both. hi love that. forget about winter wonderland. more like a frozen tundra. severe weather causing a massive headache for holiday travel. dennis: let's talk about what is bugging me. rights to interfere with your personal dna testing. tell us what you think as we head to break, let's look at energy.

tracy: looking at the dow 30 right now all. alisha more red than green on the screen. not a magical day. they are up top. down below, jpmorgan, cisco and intel, head down to the floor as

we do every 15 minutes, joseph a. being confirming unsolicited bids for men's warehouse. nicole petallides, you're going to like the way you look. nicole: who is taking over who here? which companies going to lead the break? men's warehouse new hy, joseph a. bank new high. a winning day. where else offers to buy joseph a. bank for $55 a share, 9% premium. this is two week that the bid was dropped, silicon from this unsolicited proposal that is happening but everyone on wall street when you read analyst commentary think this energy, the combination of two companies will be a good one, 1700 stores.

tracy: thanks. see you soon. dennis: what is bugging me is the fda crackdown on sheet dna testing. a naked power grab by an imperial bureaucracy. the fda is intruding on a new found of digital information about my own personal and genome which could reveal high risk cancer of heart disease and it belongs to you. the fda says you don't get to learn about unless the fda been that okay. every crackdown need the head on a stick, a target the government an attack as a warning to others. in this case the target is an outfit called 23 and the. itself and at home test called less it kit. kate cute kids, swap your in your cheek, get back report matching your sample against genetic markers for 240 trade including killers like breast cancer, $99, half a million people of done this without incident but the fda today newsbreaks ordering a halt claiming the little q tip is a

medical device ever as risky as a pacemaker implanted inside your chest. during it is. the fda is ticked off that they started selling this without bowling before the fda. when accused it isn't a medical device. get out of a way of the data revolution. tweet me at dennis kneale. is the fda right to interfere with your personal dna testing? tracy: no. there's your answer. your utility bill is something that bud you, but the need too. we have one company giving you power over your provider. jack frost, looking to throw a big wrench in your thanksgiving plan. latest on the storm before you head to the airport. be prepared to shower in this income but first , here is how the world currencies are favoring against the u.s. dollar. we will be right back. we went out and asked people a simple question:

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tracy::isn't taking the nation coast-to-coast already interrupting holiday travel plans. meteorologist maria molina standing by and the fox business weather center with leaders. people are worried about this. >> they should be. earlier today we were talking about for the as and confirmed tornado in the florida panhandle. is not just threatening travel but even threatening homes across parts of florida. we have a concern for severe weather in cutting damaging winds in excess of 50 miles an hour and isolated tornadoes in florida, georgia and across the carolinas. that is something else we are looking at with this storm system. otherwise close to the center of the storm located across the southeast, well in advance of the center of the storm, precipitation across upstate new york and pennsylvania, talking about some of right snow, the heaviest precipitation across the southeast means rainfall across sections of georgia, the

carolinas, tennessee and the mid-atlantic. we want to focus on the center of the storm, that is where the worst conditions will be and that will be in the northeast until we head overnight tonight into tomorrow and we are going to be seeing gusts, 50 miles per hour, heavy rain, even four inches of rain out there and the snow and the interior side of the storm, parts of west virginia, ohio, western pennsylvania, upstate new york, 6 to 12 inches of snow possible in spots. a lot to track with the storm. tracy: god has amazing timing, planning these storms. thank you very much. dennis: d-day, the latest on the blanket of nasty weather threatening holiday travel plans for millions of people across the country and team coverage of the looming holiday travel nightmare. casey stiegel standing by at dallas-fort worth international airport to look at the fallout

of airline ticket prices. we want to go to steve, live at reagan national airport outside washington d.c.. >> things are fairly good. we get a lot of nasty weather later. people traveling everything skipping and experienced problems all across the country as the storm swept across from california to the northeast. we look at pictures here, paranormal, washington national, some of the arrivals have been delayed and the departures later today could be delayed as well. so far today, let's look at 318 slides in the u.s. today, so far they're freaked because of the storm, 2,069 flights have been canceled. things here now but things could get a lot worse. listen. >> worst case scenario would be similar to what we saw two days ago where there was over a thousand, roughly a thousand canceled flights and delays,

suggesting we have all travelers traveling this holiday season check early and often. basically see flights that are later canceled and get in contact with your travel agent or airline to accommodate you quickly. >> here's my colleague casey stiegel. >> happy thanksgiving. dallas was really in the same boat as you heard a couple days ago, 1,000 flights cancelled on sunday and then on monday but as of right now at this hour things pretty much back up and running. no real delays other and cancellations showing up on the board here but i have got to say other than all this mother nature headaches that have been created, aaa was projecting the number of people traveling for thanksgiving this year was going to be down, forty-four million had travel plans last year, now forty-three million have plans this year. analysts say on average air fares up 7%, hotels about 10%.

then you mix that in with the current economic uncertainty. listen. >> there's the issue of the government shutdown legit weighed heavily on people's mind and not just the last shutdown, but about the decisions that have been deferred to january. americans are aware of that and it creates a sense of uncertainty that has negatively impacted travel plans. >> not everything went up, rental cars a bit cheaper according to aaa and the average price for a gallon of gasoline is down roughly $0.13 across the nation so if time allows it might be easier to take a road trip instead of traveling by air. dennis: thank you very much. tracy: road trip with the sled may be. or both.

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tracy: moving the little higher, check on these markets as we do every 15 minutes, nicole petallides on the floor of the new york stock exchange, up 20 points in the last 20 minutes.

nicole: the nasdaq breaking above the 4,000 mark, well beyond that, new highs, talk about some of the movers, the names in new highs including google. 10:59, 1100, maybe time for profits. among analysts i won't pretend to be one. google, we talked about that high, disney and new high on the dow and industrials, they did well in the asia-pacific area, that region helped end raising their outlook, that is cloud computing and services in california, got some negative comments but ran up high and fast, really high and fast again today. pulling back, back to you. tracy: thank you, see you in a bit. dennis: time warner cable may be in play but what does the ceo have to say about that? the editor in chief of multichannel news met with glen britain at time warner cable

yesterday, joined as with the slowdown based on what you saw and heard yesterday, is he ready to sell? >> glen ridge is leading after 41 years in the cable industry, has seen everything, someone who can be described as a pioneer. he said something to me he said on the earnings call which was consolidation can be a good thing but terms matter. dennis: he has seen back consolidation. >> it was shaped by two big corporate -- in 2000. >> he looks at those as a very lopsided investors and i think he would do would deal with the price is right but the way these stocks have performed already, there has to be a hefty premium paid. dennis: even though stocks have

been a. glen britain may not be in control, he leaves at the end of december and the chief operating officer is going to be ceo. would he sell these things? >> those guys are of a like mind. one of the smartest guys in the industry. i think the board is going to give rob a chance to do his best. i think rob wants to run that successfully. dennis: has been waiting to take over. a special source of yours, john malone, you wrote a biography of him several years ago. john malone is the guy to decide what happens next. >> he is a creative financial engineer and an aggressive dealmaker and someone once described rupert murdoch as the shark. if rupert murdoch's the shark than john malone is an alligator because he will sit in the mud and wage and for the right

opportunity ainge time warner is having some challenges, just got out of a big fight with cbs. >> the recent quarter in the past year, something, right? >> john malone got into cable, back into cable with charter three reasons. number one, there's a lot of upside, one of the lowest cash flow per home rates, it is -- dennis: a run on time warner cable, a company three times as large. >> he hasn't made a run yet but he favors consolidation and the reason he got into this industry is a lot of upside, and banking on the genius of tom rutledge who is widely regarded one of the best operators in the industry and thirdly and importantly john malone believes in scale. the thing you got to understand

the number-1 thing driving all of this right now is the cost of programming. the ball cost of wholesale programming, the growth rate is higher and retail and. dennis: the price increase >> that is correct. that is almost unsustainable. what can stop that? scale economics. dennis: for cloud to concept with those providers and keep their price lower. the big question i'm wondering is how do you see this coming down a year from now? time warner cable independent or a drink on someone else's charm bracelet? >> don't make me guess this. john malone is a patient man and if it doesn't happen now, i think he will get what he wants but there has always thin a tremendous amount of consolidation in the industry and we have seen these companies can be successful standing on

their own. dennis: malone is one to bet on, one to watch. good job, thanks for being with us today. appreciate it, happy holiday to you. tracy: black friday almost upon us. wait on line at your favorite box store, those black friday deals apparently are not a figment of your imagination. a new report in the wall street journal suggesting much of those so-called marked down items that are up for sale on black friday, designed with the discount built in. according to the wall street journal retailers work with manufacturers to start setting prices, they start higher and after the markdowns actually get to the desired profit margin. a look at major retailers, fudge the numbers a little before you actually get there and you think you are having a big sale, not so much. dennis: how you feel is more important than the fact.

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ask your doctor about cialis for daily use and a 30-tablet free trial. ashley: concern about future job and earnings prospects. comprises rose in september according to the latest case of the report, prices for the 20 city index rose 0.7% from august, making the estimate year over year. prices in the index's 20 cities rising, 13.3% beating the estimates for 13%, the strongest addition since february of 2006. we were expecting a on housing starts in september and october but getting those numbers until

december 18th, the commerce department will and lapses in funding during a partial government shutdown for the deal and. that is the latest on the fox business network giving you the power to prosper.

tracy: in what is looking to beat the future of consumer energy our next guest says the consumer at the center of the energy world, people in small business get control of their electors and gas bills, the a choice in their provider and many of us do not realize it. gary cooper, ceo of shoes energy, thank you for being with us. i for one of one of those people, don't buy into this notion. people come to me and i could go somewhere else and you just think the wires got crossed the property they belong to. that is it, that is not true.

>> that is not true. a common myth, a lot of consumers have in the deregulated states. you have a choice of supplies, the lines into your house are regulated and you continue to get good service in the case of the tree falling down. you have a choice to supply your energy to your house, whether you are to a green plan or a longer term plan there are a lot of opportunities to save money and -- >> tell us what to do, i should go home and look at the bill and do what? >> go home tonight, look at your bill and come to chooseenergy.com and give you a quick view of the choices that are available. if your current bill is $0.15 a kilowatt hour, other choices available to you, a little information to complete the process for you. it 6 ten minutes and within the

next 45 days after the next meter reader will happen in the background. you don't have to do anything, there's no risk, you have to save a lot of money. tracy: no risk, and i worry, lost power a bunch of times that they won't come to my house if a tree comes down or something. i don't worry about that. >> there is no risk, just what goes into the grid. where the competition comes in and they also come to your house, god forbid a tree falls or there's an issue with your service will happen in the background and you don't notice the difference between the various suppliers as to what any goes in or what is going on in the background in the grid. tracy: you have $7.5 billion in funding, that has got to make you happy. >> it will give us a chance to fill out the spot and raise awareness in education with consumers and they are big states, new york, new jersey,

connecticut, ohio, illinois, opportunities available and if there's a little education to be done for consumers so they make it comfortable, opportunities out there different than the supplies they have gone with. tracy: 7.5 million, mentally. >> i wish it were a billion. tracy: let's talk about a small business guy. how does he or she take advantage of this? >> the same thing for consumers and small-business owners. the ceo of your house or a small company a big part of monthly spend and something we don't think about all the time but has a huge opportunity to save money and put it to the bottom line so weather is your house or small business and you want to go hire more people or take a long lease vacations, there are big stained opportunities available. tracy: thank you for bringing this, you can actually go out and shot it.

gary cooper ceo of choosing energy. thank you so much. dennis: what's left to the trading pits of the cme. >> everyone is talking about cold weather. a lot of people think they got a bad report on natural gas, to get that report. oil prices relatively quiet. they were lower but rallying of the support that the u.s. is challenging the chinese air defense zone over disputed japanese islands. a little geopolitical risk coming into the market ahead of holidays giving us a little bit of a bounce off of the low. a lot happening. as far as the weather, the biggest driver up right now is heating oil, heating oil inventories at five year low, that is why you're seeing yellowback to you. dennis: thank you. tracy: we can't get enough of

this. the obamacare website taking more flak now over security, new report from the inspector general says the irs may be leaving taxpayer information completely vulnerable to hackers. diane macedo has the gory details. diane: the new report from the treasury inspector general for tax administration says the irs hasn't been keeping up with auditors' recommendations on protecting taxpayer information and that is raising concerns about the additional information the agency will store under the affordable care act. according to the report eight of 19 recommended fixes from previous audits hadn't been fully implemented despite the irs reporting they were complete. as a result the report says the agency failed to do things like property lock user account, update software or scan service for major vulnerabilities which makes easier to exploit user accounts and steel taxpayer identities. without eight corrective actions that were improperly closed the

inspector general's investigation found the irs didn't audit any of them to ensure their implementation for the executive approval to close the man three had no documentation at all to support their closure. investigators brought in their samples by 69 planned corrective actions and found only 24 had documentation to fully support being included. inspector general j. gristle reports the right degree security diligence is not applied to systems disgruntled insiders or malicious outsiders can exploit security weaknesses and may gain unauthorized access. this is the latest irs audit to reveal lack of oversight at the agency and that is raising concerns that it may not be quick to take on the new responsibilities awarded under the affordable care act which includes taxpayers' sensitive health care information. as to the inspector general's recommendations the report says the irs agreed with most of them but may not necessarily address the previous the closed corrective actions and the implementation of some of those

recommendations appear to be contingent on identifying adequate resources. i did reach out to the irs that the agency said nothing was known available for comment immediately. tracy: if you were worried about going on the site before. >> that is the thing. this has to do with taxpayer information, financial information but restoring health care information raising the level of concern. tracy: thank you very much. dennis: your tuesday media minute getting hard to tell. is run burgundian new film, chrysler pitchman or a hot new talk show guest? the right answer, yes. actor will ferrell parlayed his role in the anchormen sequel to a lucrative side business which premieres december 20th, and 70 online for chrysler's dodge during the, sales of the 59% and trashes the durango on conan last week and next the will anchor espn sports center and may parrot with robyn think of

the song blurred lines and given how the is blurring the lines with nine, commerce and media that is quite appropriate. going to court, the seminole 90s white rapper banned upset about a parity of its girl video from so long ago. goldilocks to the video with liberal singing new lyrics to the same old tune. beastie boys refused to let the music be used in ads because they don't want to be used in parities either. the question is whether the courts will agree. does the fda have the right to interfere with your dna testing? your response to what is bugging me coming up. (vo) you are a business pro. maestro of project management. baron of the build-out. you need a permit... to be this awesome. and you...rent from national.

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dennis: is the fda right to interfere with your d-testing? here's what you had to say? mike kelly said i am sick of the fed sticking their nose in my business. preventive medicine, get out of my medicine cabinet. and bruises 475,000 people on 23? sounds like the obamacare kids need to get on that market ride. drugs treated two years ago for type ii diabetes before the doctor decided adult onset type i. recent tests showed increased risk for type i. tracy: first gets a spot in the dictionary, and now a place in your living room. going 3d. the designer, for those on serious 113 there's a picture of her head in 3d, making waves with her take on the trend. using apps to digitally rendered

her lightness and print the pieces in 3d with a somewhat striking resemblance to her actual head. you don't have to be a pro to give the gift to your friends and family this holiday season. the web site shapeify uses a microsoft connect center to scare anybody, just what everybody needs and for $59 they will send you or your loved one a 3d mini he do. they can't get enough of you. the needed in their living room too. dennis: airlines looking at waiting tinge fees to deal with the wind 3 mass watching out holiday weekend for a good part of the nation. the forecast and flight delays are next. tracy: the new social network what this has a twist, for did people. adam shapiro talks to the creator of a virtual graveyard for those who have gone before us. 21 points, don't go anywhere. ♪

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adam: time to brainstorm a thanksgiving plan b with. i'm adam shapiro. a big winter storm is headed east just as millions plan to visit their family for holiday. the latest on the storm's path, flight delays and if you need to alter your travel plans. neither rain, nor snow, nor sleet, nor hail will keep the shoppers at bay. why the massive storm is setting up for the ideal shopping weekend for retailers. and a fox business exclusive, former federal reserve chief alan greenspan on what he says is holding back the economy. las vegas as close as your laptop, new jersey rolling the dice on online gambling, but can virtual and land-based casinos thri s